Business

A Canadian in Hong Kong

Article Abstract:

Canadian chartered accountant Barry MacDonald is the sole partner of Coopers and Lybrand in Hong Kong. Judging by the fact that he has learned to enjoy such exotic dishes as chicken feet and snake soup, it can be fairly said that he has comfortably enjoyed the environment in the British colony. MacDonald says it is easy living there because English is commonly spoken and the business environment is much like that in North America. His clients include Asians, Canadians and Americans.

Judgment in jeopardy

Article Abstract:

The laxity in the application of generally accepted accounting principles has been criticized. There have been complaints that individuals preparing financial reports are not exercising proper judgement. Slanted financial reporting has been a growing concern among regulators in the financial community. Detailed rules cannot eliminate the necessity of judgement for financial reporting.

In step with the law; in matters legal, it's essential for CAs to know what they don't know

Article Abstract:

Accountants should be cautious about handling client requests for assistance in estate planning and tax planning to avoid incurring severe liabilities. When asked to perform such tasks, accountants should seek the assistance of lawyers. They should work closely with lawyers to ensure that tasks are completed quickly and efficiently.